leadf
logo-loader
viewGold Road Resources Ltd

Gold Road Resources drilling extends Gilmour gold deposit

Drill results show good potential to grow the Gilmour‐Morello gold system.

Map of projects in Yamarna belt
Elsewhere, first gold production is expected in the June quarter from Gruyere

Gold Road Resources Ltd (ASX:GOR) has received infill and extensional drill results from its Gilmour gold deposit within its 100% owned Yamarna tenements in Western Australia.

Latest intersections include grades of up to 117.78 g/t gold and broad intersections such as 19 metres at 2.78 g/t gold from 63 metres.

The contiguous high‐grade results provide considerable scope for strike and down‐dip extensions to known mineralisation.

Further extensional and infill drilling at Gilmour and exploration drilling of the Gilmour-Morello system will commence in the current March 2019 quarter.

READ: Gold Road Resources full steam ahead towards first gold from Gruyere JV this half

Gold Road’s executive director Justin Osborne said: “This last round of infill and extensional drilling proved very successful in confirming the high‐grade nature of the mineralisation at Gilmour, with abundant free gold consistently intersected in both diamond and RC drilling.

“More importantly, the drilling demonstrated a highly predictable geometry to the main shear zone as well as indications of possible parallel structures which only adds to the upside of this exciting new discovery.

“Our 2019 drilling programs will kick off in February with diamond and RC drilling targeting further extensions to the currently defined Gilmour footprint prior to commencing detailed drilling for resource assessment.”

Drilling comprised of 11 diamond holes for 3,521 metres and 22 reverse circulation (RC) holes for 3,941 metres designed to infill previous high-grade results.

Drilling on the Gilmour Main Shear has defined gold mineralisation over a 500-metre strike length and a dip extent of 300 metres.

Drilling has generated new exploration targets

The identification of high‐grade gold-in-quartz occurring within the Waters Fault has delivered new exploration targets within the Gilmour‐Morello mineralised system.

The target areas prioritised for immediate testing now include:

• extensions to depth and strike of the Gilmour Main Shear;
• additional high‐grade shoots along the Morello Main Shear;
• additional lode positions parallel to both the Gilmour and Morello Main Shears; and
• additional mineralisation “dragged” into the east‐west trending Waters Fault.

Quick facts: Gold Road Resources Ltd

Price: 1.69 AUD

ASX:GOR
Market: ASX
Market Cap: $1.49 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Davide Bosio previews hotly anticipated IPOs for Miramar Resources and Zebit

Davide Bosio from Shaw and Partners says it's been a terrific start to the listing process for Miramar Resources, a junior West Australia exploration company. ''We opened up the offer and closed literally on the same day raising $8mln''. Bosio adds that Zebit is still on track to list on the ASX...

1 day, 4 hours ago

2 min read